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29 Mar

Ferrous futures gain on raw materials support

Chinese rebar and hot rolled coil futures continued to recover on Wednesday, with iron ore futures inching higher and giving steel futures a boost. On the Shanghai Futures Exchange, the most-traded May 2023 rebar contract closed CNY 15/tonne ($2.1/t) higher than Tuesday at CNY 4,151/t ($602/t), while the same contract for HRC gained CNY 15/t to CNY 4,271/t. With the period of rainfall coming to an end, the haze hanging over the steel mark…
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